Thomas Cook India not part of brand’s global sale to China’s Fosun

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Thomas Cook India Chairman and Managing Director Madhavan Menon, further stated that the brand for the markets of India, Sri Lanka and Maurutius has been and continues to be protected for exclusive use by Thomas Cook India Ltd (TCIL) until November 2024.

Travel services provider Thomas Cook India on Sunday said the sale of the company to China’s Fosun does not include regions of India, Sri Lanka and Mauritius.

“With regard to recent media reports pertaining to the sale of the Thomas Cook Global brand to Fosun of China, it is imperative to clarify that the reported sale of the Global Thomas Cook brand to Fosun of China does not include the regions of India, Sri Lanka and Mauritius,” Thomas Cook India Chairman and Managing Director Madhavan Menon said in a statement.

The brand for these markets has been and continues to be protected for exclusive use by Thomas Cook India Ltd (TCIL) until November 2024 as per a brand licence agreement entered into in 2012 between Thomas Cook India’s promoters Fairfax Financial Holdings and erstwhile Thomas Cook Plc, he added.

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The issue will comprise a secondary share sale worth Rs 600 crore by private equity major Everstone Capital and fresh fundraising worth Rs 400 crore.

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